Cure or Repurchase. Within ninety (90) days from the earlier of either discovery by or notice to Countrywide of a breach of a representation or warranty that materially and adversely affects the value of a Mortgage Loan or the Mortgage Loans, Countrywide shall use its best efforts to cure such breach in all material respects, and, if such breach cannot be cured, Countrywide shall, at the Purchaser’s option, repurchase such Mortgage Loan at the Repurchase Price. In the event that a breach shall involve any representation or warranty set forth in Section 3.01 and such breach cannot be cured within ninety (90) days of the earlier of either discovery by or notice to Countrywide of such breach, all of the Mortgage Loans shall, at the Purchaser’s option, be repurchased by Countrywide at the Repurchase Price.
Cure or Repurchase. Within sixty (60) days from the earlier of either discovery by or notice to Countrywide of a breach of a representation or warranty that materially and adversely affects the value of a Mortgage Loan or the Mortgage Loans, or the Purchaser's interests therein, Countrywide shall use its best efforts to promptly cure such breach in all material respects, and, if such breach cannot be cured, Countrywide shall, at the Purchaser's option, repurchase such Mortgage Loan at the Repurchase Price. In the event that a breach shall involve any representation or warranty set forth in Section 3.01 hereof and such breach cannot be cured within sixty (60) days of the earlier of either discovery by or notice to Countrywide of such breach, all of the Mortgage Loans affected by such breach shall, at the Purchaser's option, be repurchased by Countrywide at the Repurchase Price.
Cure or Repurchase. If CMI, in its sole and exclusive discretion, determines any Loan purchased pursuant to this Agreement:
Cure or Repurchase. Within sixty (60) days from the earlier of either discovery by or notice to Greenpoint of a breach of a representation or warranty that materially and adversely affects the value of a Mortgage Loan or the Mortgage Loans, Greenpoint shall use its best efforts to cure such breach in all material respects, and, if such breach cannot be cured, Greenpoint shall, at the Purchaser's option, repurchase such Mortgage Loan at the Repurchase Price. Notwithstanding anything to the contrary herein, a breach of any one of the representations and warranties set forth in clauses (ee), (rr), (ss), (uu), (vv), (hhh), (kkk), (lll), (nnn), (ooo), (ppp) and (qqq) in Subsection 3.02 shall be deemed to materially and adversely affect the value of the related Mortgage Loans and not be curable and, within sixty (60) days of the earlier of either discovery by or notice to Greenpoint, as the case may be, of such breach, Greenpoint shall repurchase such Mortgage Loan at the Repurchase Price. In the event that a breach shall involve any representation or warranty set forth in Section 3.01 and such breach cannot be cured within sixty (60) days of the earlier of either discovery by or notice to Greenpoint of such breach, Greenpoint shall repurchase such of the Mortgage Loans as shall be necessary to cure such breach at the Repurchase Price.
Cure or Repurchase. Within sixty (60) days from the earlier of either discovery by or notice to Indymac of a breach of a representation or warranty that materially and adversely affects the value of a Mortgage Loan or the Mortgage Loans, Indymac shall use its best efforts to cure such breach in all material respects, and, if such breach cannot be cured, Indymac shall, at the Purchaser’s option, repurchase such Mortgage Loan at the Repurchase Price. Notwithstanding anything to the contrary herein, (i) breach of any one of the representation and warranty set forth in clause (uu) in Subsection 3.02 shall be deemed to materially and adversely affect the value of the related Mortgage Loans and, within sixty (60) days of the earlier of either discovery by or notice to Indymac, as the case may be, of such breach, Indymac shall repurchase such Mortgage Loan at the Repurchase Price and (ii) any breach of a Deemed Material and Adverse Representation shall automatically be deemed to materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser therein. In the event that a breach shall involve any representation or warranty set forth in Section 3.01 and such breach cannot be cured within sixty (60) days of the earlier of either discovery by or notice to Indymac of such breach, Indymac shall repurchase such of the Mortgage Loans as shall be necessary to cure such breach at the Repurchase Price.
Cure or Repurchase. If, as a result of a breach of a representation or warranty of Seller contained in the Servicing Agreements, any Mortgage Loan is found defective by the applicable Investor, then Seller will, upon notification by Purchaser and/or upon notification by such Investor, contest, correct or cure such defect, at Seller’s sole expense, within the time prescribed by the Investor to the satisfaction of the Investor or Seller shall repurchase such Mortgage Loan (a) if prior to the Transfer Date, from the Investor, at the price required by the Investor, or (b) if after the Transfer Date, from Purchaser, at the price required by the Investor plus the Purchase Price paid for such Mortgage Loan recalculated on the unpaid principal balance of such Mortgage Loan at the time of repurchase and any unreimbursed advances, including interest and escrow advances, made by Purchaser with respect to such Mortgage Loan (the “Buyout Price”). Purchaser agrees that it will not prevent Seller from consulting with any Investor with respect to the circumstances described in the preceding sentence. Seller shall pay Purchaser the Buyout Price with respect to a repurchased Mortgage Loan no later than fifteen (15) calendar days following the mailing of the related Mortgagor notice. Upon completion of the repurchase by Seller the Servicing to such Mortgage Loan shall revert to Seller, and Purchaser shall forward to Seller all Mortgage Loan documents, Servicing records, Related Escrow Accounts and any other records and documents relating to such Mortgage Loan within five (5) Business Days after receipt of the Buyout Price, subject to applicable state and federal laws governing transfers of servicing rights. Seller shall identify to Purchaser prior to the Transfer Date any Mortgage Loan that any Agency has notified Seller to repurchase and shall use its best efforts to complete the cure or repurchase of such Mortgage Loan prior to the Transfer Date.
Cure or Repurchase. (a) Seller shall repurchase the Mortgage Servicing Rights with respect to any Mortgage Loan from Purchaser if Seller or an Affiliate of Seller is obligated to repurchase the related Mortgage Loan from the applicable Investor. Seller shall repurchase such Mortgage Servicing Rights from the Purchaser at the Repurchase Price, and reimburse Purchaser for the related outstanding Advances that were previously reimbursed to Seller by Purchaser in accordance with Article III of this Agreement and not recovered by Purchaser, or advances of the same type as the Advances that were properly made by Purchaser after each Servicing Transfer Date that are fully reimbursable pursuant to the related Servicing Agreement and as to which Purchaser is entitled to recovery.
Cure or Repurchase. If Lender, in its sole and exclusive discretion, determines that any Loan:
Cure or Repurchase. (a) The applicable Seller shall pay to Purchaser the Purchase Price Recapture Amount, minus the related portion of any remaining Document Holdback, if any, with respect to any Mortgage Servicing Rights if the related Mortgage Loan is required to be repurchased from an Investor within the period that is four (4) years following the Sale Date or the Subsequent Sale Date, as applicable. In addition to the Purchase Price Recapture Amount, such Seller shall reimburse Purchaser for the related outstanding Advances that were previously reimbursed to such Seller by Purchaser in accordance with Article III of this Agreement and not recovered by Purchaser, or advances of the same type as the Advances that were properly made by Purchaser after the applicable Servicing Transfer Date that are made in accordance with Applicable Requirements and as to which Purchaser is entitled to recovery, and shall be liable for indemnification for any Losses as and to the extent otherwise provided in this Article XI.
Cure or Repurchase. If, as a result of a breach of a representation or warranty of Seller contained in this Agreement, or the Servicing Agreements, any Mortgage Loan is found defective by the Investor and the responsibility to cure such defect is the Seller’s under the Servicing Agreement, this Agreement and the Tri-Party Agreement, then Seller will, upon reasonable and timely notification by Purchaser and/or such Investor, correct or cure such defect, at Seller’s sole expense, within the time prescribed by the Investor, and to the satisfaction of the Investor. In the event such defect cannot be cured or corrected to the satisfaction of such Investor, and such breach materially and adversely affects the value of the Servicing Right, Seller shall repurchase such Servicing Right from the Purchaser. The Purchase Price recapture under this Section 10.03, and Section 10.04, (the “Repurchase Price”) shall be subject to the following provisions: from the Sale Date until the first anniversary of the Sale Date, the Seller shall pay Purchaser one hundred (100%) percent of the Purchase Price; after the first anniversary of the Sale Date and until the second anniversary of the Sale Date, the Seller shall pay Purchaser seventy-five (75%) percent of the Purchase Price; after the second anniversary of the Sale Date and until the third anniversary of the Sale Date, the Seller shall pay Purchaser fifty (50%) percent of the Purchase Price; after the third anniversary of the Sale Date and until the fourth anniversary, the Seller shall pay Purchaser twenty-five (25%) percent of the Purchase. Notwithstanding anything to the contrary in this Agreement, Purchaser acknowledges and agrees that Purchaser shall be obligated to cure and/or repurchase any Mortgage Loan, if requested by the Investor, if it is determined that Purchaser: (i) breached any representation, warranty, covenant, or any provision of this Agreement, (ii) failed to service any Mortgage Loan in accordance with accepted servicing practices and the Servicing Agreements, or (iii) for any act or omission of Purchaser (or any of its agents or representatives) which causes the Seller to materially breach any Servicing Agreement with the Investor.
